Looks like someone used the define projection tool, and defined it as a geographic coordinate system (GCS wgs84)

And given the extents that is totally absurd. Since it was a shapefile, locate the *.prj file and rename it to *.xxx and reload the shapefile. It will probably load but it will tell you it doesn't have a defined projection.

Perhaps someone meant to give it a Web Mercator projection instead if you are using webby data sources